Mozambique is struggling with a financial and economic crisis. After his pleas for help went unheeded by Europe, President Nyusi is now hoping for a bailout from China.
Mozambique’s head of state Filipe Nyusi is under heavy pressure. For months he had been denying media reports about financial scandals, corruption and misappropriation of state monies. But in April Nyusi had to own up to hidden public debt to the tune of 1.25 billion euro ($1.4 billion), accumulated by his predecessor and mentor Armando Guebuza. Nyusi’s admission further highlighted the depth of the country’s economic crisis.
The president and his government are facing a dire financial crisis. Nyusi is trying to win time and secure his political survival with fresh loans from China.
Antonio Cascais